24 Accounts. U.K.
(1)Each Board—
(a)shall cause proper accounts and other records in relation thereto to be kept, and
(b)shall prepare an annual statement of accounts in such form and containing such particulars, compiled in such manner, as the Minister may from time to time direct with the approval of the Treasury [F1and, in the case of the British Waterways Board, the Scottish Ministers].
(2)The accounts of each Board shall be audited by an auditor or auditors to be appointed annually by the Minister [F2after, in the case of the British Waterways Board, consultation with the Scottish Ministers]and a person [F3shall not be so appointed unless he is eligible for appointment as a company auditor under section 25 of the Companies Act 1989.]
(3)So soon as the accounts of a Board have been audited as aforesaid, they shall send a copy of the statement of accounts referred to in paragraph (b) of subsection (1) of this section to the Minister [F4and, in the case of the British Waterways Board, to the Scottish Ministers], together with a copy of the report made by the auditor or auditors on that statement, and a copy of that statement and of any such report shall be included in the report which is under this Act to be laid by the Minister annually before each House of Parliament [F5and in the report which is, under this Act, to be laid by the Scottish Ministers annually before the Scottish Parliament].
(4)Section thirty-nine of the M1Railway and Canal Traffic Act 1888, and the M2Railway Companies (Accounts and Returns) Act 1911 (which relate to the making of returns and the keeping of statistics by railway and canal companies), and, except so far as the Minister may by order made by statutory instrument otherwise provide, so much of any statutory provision as relates to the accounts, statistics and returns to be kept or made by the owners of undertakings which were by the M3Transport Act 1947, transferred to the Commission, or as relates to the audit or publication of any such accounts, shall not apply to any of the Boards.
Textual Amendments
F1Words in s. 24(1)(b) inserted (1.4.2001) by S.I. 2000/3251, arts. 1(2)(b), 2, Sch. 2 para. 2(14) (with transitional provisions and savings in art. 4)
F2Words in s. 24(2) inserted (1.4.2001) by S.I. 2000/3251, arts. 1(2)(b), 2, Sch. 2 para. 2(15) (with transitional provisions and savings in art. 4)
F3Words in s. 24(2) substituted (1.10.1991) by S.I. 1991/1997, regs. 2, 4, Sch. para. 10
F4Words in s. 24(3) inserted (1.4.2001) by S.I. 2000/3251, arts. 1(2)(b), 2, Sch. 2 para. 2(16)(a) (with transitional provisions and savings in art. 4)
F5Words in s. 24(3) inserted (1.4.2001) by S.I. 2000/3251, arts. 1(2)(b), 2, Sch. 2 para. 2(16)(b) (with transitional provisions and savings in art. 4)
Modifications etc. (not altering text)
C1Ss. 18-21, 24 extended by Transport Act (c. 73), s. 27(1)
C2S. 24 explained by Transport Act 1981 (c. 56, SIF 126), s. 5(4), Sch. 4 Pt. II para. 12
C3S. 24 applied (6.1.1994) by 1993 c. 43, s. 94(6); S.I. 1993/3237, art. 2(2)
Marginal Citations